Ned Coates Posted April 6, 2011 Share Posted April 6, 2011 My current company contract says I'm only employed until I'm 65 and they won't renew. So what happens in terms of income now? Do I sign on the rock'n'roll for one year until the pension kicks in? Will I get job seekers allowance? I am not understanding what exactly the new retirement age means in real terms Quote Link to comment Share on other sites More sharing options...
SarahBell Posted April 6, 2011 Share Posted April 6, 2011 That term is now overwritten by law. I assume thats how it works. Presumably the law allows for medical and sanity checks. Quote Link to comment Share on other sites More sharing options...
57percent Posted April 6, 2011 Share Posted April 6, 2011 (edited) There's lots of things at play here. Firstly, they can no longer get rid of you at 65, so you can continue working till whenever. The state pension kicks in at 66, so if you weren't working, the dole for a year first. Your personal/work pension should be unchanged. If final salary, it would kick in at 65. If money purchase, then it's your choice when to buy an annuity (the longer you wait, the more per year you should received). Edited April 6, 2011 by 57percent Quote Link to comment Share on other sites More sharing options...
Gerinako Posted April 6, 2011 Share Posted April 6, 2011 My contract states I have to leave the company at age 50... Luckily I have no intention of being here by time I'm 50. Not sure how that helps but its weird and wonderful Quote Link to comment Share on other sites More sharing options...
NotMyHouse Posted April 6, 2011 Share Posted April 6, 2011 My contract states I have to leave the company at age 50... Luckily I have no intention of being here by time I'm 50. Not sure how that helps but its weird and wonderful Again, I think you will find that that clause in your contract is now invalid and you cannot be forced to leave on the basis of having reached a set age. Your position could, of course, simply be made redundant when you reach that age, but I suspect they would be dicing with a possible claim for age discrimination if they did that. Quote Link to comment Share on other sites More sharing options...
SarahBell Posted April 6, 2011 Share Posted April 6, 2011 My contract states I have to leave the company at age 50... Luckily I have no intention of being here by time I'm 50. Not sure how that helps but its weird and wonderful Is it one of the exempted uniformed services? Quote Link to comment Share on other sites More sharing options...
Buccaneer Posted April 6, 2011 Share Posted April 6, 2011 Again, I think you will find that that clause in your contract is now invalid and you cannot be forced to leave on the basis of having reached a set age. Your position could, of course, simply be made redundant when you reach that age, but I suspect they would be dicing with a possible claim for age discrimination if they did that. The original poster could be on a fixed term contract with a date of expiry set to coincide with his 65th birthday. In this case he would not be being forced to leave. Simply his contract would be finishing. No discrimination or claim. I suspect that this type of arrangement will become common in the future. Quote Link to comment Share on other sites More sharing options...
Gerinako Posted April 6, 2011 Share Posted April 6, 2011 Is it one of the exempted uniformed services? Nope - I'm in the gambling industry. Back office. Bizarre - but doesn't concern me. Quote Link to comment Share on other sites More sharing options...
retz Posted April 6, 2011 Share Posted April 6, 2011 (edited) Can they still pull the old "Your role is no longer required" gumpf? Edited April 6, 2011 by retz Quote Link to comment Share on other sites More sharing options...
wonderpup Posted April 6, 2011 Share Posted April 6, 2011 Can they still pull the old "Your role is no longer required" gumpf? Of course they can- if they want you out a way will be found. What will happen though is the employment prospects of the 50+ age group will nosedive as their 'rights' increase. Quote Link to comment Share on other sites More sharing options...
MongerOfDoom Posted April 6, 2011 Share Posted April 6, 2011 The original poster could be on a fixed term contract with a date of expiry set to coincide with his 65th birthday. In this case he would not be being forced to leave. Simply his contract would be finishing. No discrimination or claim. I wonder if that is true, though sorry if you have detailed knowledge of the law, and it is. I think that after one year you can claim unfair dismissal. That might well be possible if the employer replaced you with a newly hired younger employee? http://www.direct.gov.uk/en/Employment/RedundancyAndLeavingYourJob/Dismissal/DG_175834 You also cannot normally have a sequence of fixed term contracts spanning more than four years. Your contract just becomes permanent if you do. I am not sure if this applies to one contract over four years long, however I expect that if it didn't then the new legislation would be effectively meaningless, so there is a good chance that it either does or further legislation would address it? http://www.direct.gov.uk/en/Employment/Understandingyourworkstatus/Fixedtermworkers/DG_175138 (NB: this link might also be relevant to the original poster) (None of this is advice, necessarily correct, don't in any way rely on it, etc, etc) Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted April 6, 2011 Share Posted April 6, 2011 Is it one of the exempted uniformed services? wot. like the one TMT advertises? Quote Link to comment Share on other sites More sharing options...
plummet expert Posted April 6, 2011 Share Posted April 6, 2011 My contract states I have to leave the company at age 50... Luckily I have no intention of being here by time I'm 50. Not sure how that helps but its weird and wonderful We must distinguish between fixed term contracts using age as the calculation point for determining that term AND a contract written before the new legislation kicked in which says you are retiring at 65. The latter case is now unlawful and you need not leave just on account of age even if it says so in the contract. There would have to be another reason to get rid of you. So just keep on working if you want! Quote Link to comment Share on other sites More sharing options...
Tiger Woods? Posted April 6, 2011 Share Posted April 6, 2011 (edited) . Edited April 6, 2011 by Tiger Woods? Quote Link to comment Share on other sites More sharing options...
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